- Financial Express
Districts as Export Hubs initiative by govt will give Indian MSMEs ammunition to beat China’
Trade, import, and exports for MSMEs: With the intent to fructify an ambitious export target for FY23, The Directorate General of Foreign Trade (DGFT) has sought Rs 6,000 crores in funding for the ‘Districts as Export Hubs’ initiative. All eyes are already on India as it ups its ante to produce and export more in the wake of global supply chain disruption. Moreover, labor shortage, lack of raw materials, etc. due to covid-19 impact have severely dented China’s potential to continue its global exports momentum, with many countries opting for the China +1 strategy being the icing on the cake for India. With all these factors at play, industry experts view the proposal as a step in the right direction, and the timing couldn’t have been more appropriate.